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refinance cary nc: If You Have An ARM, Pull Out Your Note - 09/17/08 04:58 PM
LIBOR is on the rise.  In fact, according to Bloomberg:
"The overnight Libor rate in U.S. dollars soared 3.33 percentage points to 6.44 percent today, its biggest jump in at least seven years, according to the British Bankers' Association. The one-week rate rose by more than a percentage point, to 3.88 percent from 2.49 percent on Monday, and the one-month rate increased to 2.75 percent from 2.5 percent."
Granted, most adjustable rate mortgages are not tied to the 1 day LIBOR... but most are tied to SOME part of LIBOR!  So I suggest that you get out your note, and look … (7 comments)

refinance cary nc: Should You Refinance or Sell? BE REALISTIC! - 08/20/08 10:59 AM
Maybe it's the economy, or maybe it's just a cycle... but we've talked to a TON of people lately who are contemplating divorce.
If you're going through this, you have major decisions infront of you - and one of the most important could involve your "assets."  One of my favorite Realtors says, "once that sign goes up in the yard, it's no longer a home... it's an ASSET."
We are not attorneys, but one of the best suggestions we have is to avoid a "Quick Deed" transfer of title if at all possible. (for more information on that click here). There are … (5 comments)

refinance cary nc: Selling As You Separate - 06/28/08 11:48 AM
Lately, we've talked to several people who are going through a divorce - or WANT DESPERATELY to get out of a marriage.
Their real estate is holding them back.
I guess it's not surprising that folks with money issues are also having marriage issues - but there are important details they need to consider:
Who is on the Deed and who is on the note? Is there an escrow?  If not - who has the insurance policy?  Are the taxes current? If the separation agreement calls for one spouse to "buy out" the other spouse - are they qualified to do that? One … (8 comments)

refinance cary nc: WOW! FED LOWERS BY 75 Bps - must be bad! - 01/22/08 07:38 AM

Dark clouds are brewing over the family farm...
Prior to the Fed's move a couple of minutes ago - the 10 year was already trading at a level that would allow us to offer 30 year fixed mortgage rates at 5.0% or lower.  I would be surprised if we do not see rates at or below 5% when rates come out in a couple of hours.  This is HUGE!
This is surreal!  While the fed is lowering by .75% Paulson is speaking and saying the President's package is Robust!  A $500 check is NOT Robust!  And then Paulso says (in … (10 comments)

refinance cary nc: Time to Refinance? - 01/03/08 06:15 AM
If you closed on your mortgage loan with National Mortgage in May of 2005 or May of 2003 - you are probably going to get a call from me in the next week.
It's time to consider refinancing your home, because your mortgage will reset in the next 60 days.  WHAT DOES THAT MEAN??  When your mortgage resets it means that the payment is going to change.  If you have a 4.5 percent interest rate (and many of the 3 and 5 year arms had those start rates) the mortgage holder will take your Index and add the Margin and then calculate … (1 comments)

 
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Steve Thorne NC Mortgage Experts

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